How is OPSEU/SEFPO involved in the CAAT pension plan?
The CAAT Pension Plan is a Registered Pension Plan serving 125,000 members from more than 800 employers, with its own governance structure, hired staff, and leadership. OPSEU/SEFPO appoints five trustees to the CAAT Board of Trustees and 3 to the Sponsor’s Committee, while the remaining trustees are appointed by the other plan sponsors: the College Employer Council (CEC) and the Ontario College Administrative Staff Association (OCASA). However, OPSEU/SEFPO has no direct influence on the administrative decision-making of the CAAT Pension Plan Board of Trustees. Trustees who are appointed have a fiduciary duty – a responsibility first and foremost to make decisions in the best interest of the plan, and plan members, including retirees. In light of the recent departure of 3 executives of CAAT Pension Board, what is OPSEU/SEFPO doing?
OPSEU/SEFPO is seeking accountability and is taking action that is within our scope. On January 23rd, 2026, the union suspended OPSEU/SEFPO Trustee and Chair of the Board, Don Smith, pending an internal investigation. The investigation is in response to allegations that the Chair and Vice-Chair, Kareen Stangherlin – the CEC appointed trustee, may have acted outside the policies and procedures of the plan. We are calling on the College Employer Council (CEC) to open an investigation into the actions of their appointed trustee as well. We are in ongoing discussions with OPSEU/SEFPO trustees and sponsor committee members, requesting information about decisions being made. OPSEU/SEFPO is invested in our trustees making decisions that follow principles of good governance and protecting the plan.Should I be worried about the health of the pension plan?
It is understandable that due to recent events, members and retirees may wonder what this means about the health of the CAAT Pension Plan. OPSEU/SEFPO has received assurances from CAAT Pension that the plan is well funded and continues to be strongly positioned to meet retirement commitments for members and retirees. While certainly the events of the last week have raised questions that must be addressed, the structure of a large, jointly sponsored pension plan allows the plan to withstand changes in leadership. The CAAT plan is a long-term investment vehicle and is reported to be one of the best performing funds in the country with an average return of 9.6% over the last 10 years (as of December 31, 2024). Furthermore, it is subject to external audit. The following is a statement from the CAAT Pension Plan: “Based on the most recent review, the Plan has over 99% probability of remaining fully funded over the next 20 years. In the highly unlikely event of a deficit (i.e., less than 1% probability), your pension would still be paid in full, as required by pension legislation.” OPSEU/SEFPO is committed to ensuring our members receive any further updates provided by the CAAT Pension Plan. 
